forum thread Posted by Moooshe • Mar 16, 2023
Mar 16, 2023 2:34 PM
forum thread Posted by Moooshe • Mar 16, 2023
Mar 16, 2023 2:34 PM
Forbright Bank is offering 5.25% APY on a 12-month CD. 3-month penalty for early withdrawal.
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All banks nowadays have ESG components and diversity officers and all that good stuff. Goldman, JPM, all of them. If it wasnt good for business they wouldnt do it.
I read the investor doesn't get the interest for primary CDs, instead it goes to the bank/brokerage.
https://www.treasurydir
T-bills can be purchased from most banks with an investment department for a minimal commission (0.1% at my bank) or directly from the government without commission. I find it worthwhile to go through a bank because they do all the rate lookup and the paperwork for me, with consolidated statements at the end of the year.
T-bills are exempt from Federal income tax. In a higher tax bracket this can raise the return by a quarter of a percent or more.
The investment length is anywhere between four weeks and 52 weeks in (about) monthly increments.
The short term T-bill rates are now actually higher than the long term rates. And despite my personal opinion of government by deficit, they are one of the safest securities available.
Anyway, that's where I'm keeping my money - in T-bills. And it's not just for the rich -- the minimum investment through Treasury Direct is $100 with increments of $100.
https://www.treasurydir
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T-bills are exempt from Federal income tax. In a higher tax bracket this can raise the return by a quarter of a percent or more.
Munis are Fed tax exempt but that's clearly reflected in their rates, not to mention the risks.